Bond yields traded higher on Monday as State Bank of India’s (SBI) report stated that the Reserve Bank of India's (RBI’s) record dividend payout of nearly Rs 2.7 trillion to the government has been made possible due to robust gross dollar sales, higher foreign exchange gains, and steady increases in interest income.
In the global market, Treasury yields retreated on Friday after President Donald Trump ramped up trade tensions with Europe. Furthermore, oil prices gained on Friday as U.S. buyers covered positions ahead of the three-day Memorial Day weekend amid worries over the latest round of nuclear talks between American and Iranian negotiators.
Back home, the yields on new 10 year Government Stock were trading 1 basis points higher at 6.244% from its previous close of 6.229% on Friday.
The benchmark five-year interest rates were trading 1 basis points higher at 5.888% from its previous close of 5.871% on Friday.
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